Laserfiche WebLink
<br />Resolution No. <br /> <br />RESOLUTION APPROVING THE INCURRENCE BY THE MIDLAND <br />VOLUNTEER FIRt: DEPARTMENT OF UP TO $328,358.00 IN INDEBTEDNESS <br />FROM FIRST CHARTER BANK TO FINANCE THE ACQUISITION OF A FIRE <br />TRUCK. <br /> <br />WHEREAS, the Bqard of Directors of the Midland Volunteer Fire Department on behalf <br />of the Board, pursuant to public notice duly given (the "Notice"), held a public hearing on the <br />proposed Loan and Project and considered the comments of persons who requested to be heard; <br />and . <br /> <br />WHEREAS, neither the County nor any agency thereof shall be liable in any event for <br />the repayment of the Loan!, the Loan does not constitute an indebtedness of the County or any <br />agency thereof and does not constitute or create in any manner a debt or liability of the County or <br />any agency thereof; and <br /> <br />WHEREAS,the Board desires to approve the Loan and approve the Project; NOW, <br />THEREFORE, <br /> <br />BE IT RESOLVED by the Board of Commissioners of Cabarrus County, North Carolina <br />as follows: <br /> <br />(1) The publication of the Notice and the designation of the meeting held by <br />the Midland Volunteer Fire Department Board of Directors on September 22, 2005 as a <br />public hearing on the Loan and the Project is hereby ratified and approved. <br /> <br />(2) The incurrence by Midland Volunteer Fire Department of indebtedness of <br />up to $328,358.00 to First Charter Bank to finance the Project is hereby approved. <br /> <br />(3) The :E'roject is hereby approved. <br /> <br />(4) All a~tions heretofore taken and taken in the future by the officers or other <br />representatives of t\1e Midland Volunteer Fire Department or the County of Cabarrus, <br />North Carolina on ~ehalf of the Midland Volunteer Fire Department in connection with <br />the Project, includij1g the execution of a Loan and Security Agreement, a Promissory <br />Note and an MVR-<;t, be, and hereby are, ratified, approved and confinued in all respects <br /> <br />(5) This resolution shall take effect immediately upon its passage. <br /> <br />Commissioner moved the passage of the foregoing <br />resolution and the resolution was passed by the following vote: <br /> <br />AYES: <br /> <br />NAYS: <br /> <br />F-I(., <br /> <br />2" <br />